Kapsch TrafficCom prel. 1H 20/21 - Impairments and weak quarter as expected, outlook down
Kapsch TrafficCom announced preliminary 1H 20/21 results, which included impairments and write downs of EUR 32 mn and lowered the outlook for the FY 20/21, both on the top line as well as EBIT.Impairments and write-downs: As expected, Kapsch TrafficCom impaired US goodwill of EUR 21 mn, and also made margin-adjustment-related write downs, which, together, totalled EUR 32 mn. We had highlighted the impairment potential for the U.S before and consider the other write-downs as a complementary measure.
Kapsch TrafficCom is an international supplier of superior intelligent transportation systems (ITS). Co. subdivided into the following three segments: Road Solution Projects; Services, System Extensions, Components Sales; and Others. The segment Road Solution Projects relates to the installation of ITS solutions. The segment Services, System Extensions, Components Sales relates to the sale of services and components in the area of ITS solutions. The segment Others relates to non-core business activities conducted by Kapsch Components KG. In this segment, Co. offers engineering solutions, electronic manufacturing and logistics services to affiliated entities and third parties.
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